United Parcel Service (NYSE:UPS) Stock Price Up 1.4% Following Dividend Announcement

United Parcel Service, Inc. (NYSE:UPS)’s stock price shot up 1.4% during trading on Thursday following a dividend announcement from the company. The stock traded as high as $95.71 and last traded at $95.24. 1,201,517 shares changed hands during trading, a decline of 76% from the average session volume of 4,970,426 shares. The stock had previously closed at $93.96.

The newly announced dividend which will be paid on Thursday, June 5th. Stockholders of record on Monday, May 19th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.56 annualized dividend and a dividend yield of 6.77%. United Parcel Service’s dividend payout ratio is currently 95.63%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wolfe Research cut their price target on shares of United Parcel Service from $133.00 to $113.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company reissued an “equal weight” rating and issued a $98.00 target price (down from $120.00) on shares of United Parcel Service in a research report on Tuesday, April 22nd. BMO Capital Markets cut their price target on United Parcel Service from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird downgraded United Parcel Service from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $130.00 in a report on Friday, January 31st. Finally, Morgan Stanley lowered their target price on shares of United Parcel Service from $100.00 to $82.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, United Parcel Service currently has an average rating of “Hold” and an average price target of $120.87.

United Parcel Service Price Performance

The company has a market cap of $82.79 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. The company has a fifty day moving average price of $104.70 and a two-hundred day moving average price of $119.17.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, April 29th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.38 by $0.11. The company had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $21.25 billion. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.43 EPS. As a group, equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

Institutional Trading of United Parcel Service

Hedge funds have recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in United Parcel Service during the 4th quarter worth about $25,000. Generali Investments Management Co LLC acquired a new position in United Parcel Service during the fourth quarter worth approximately $26,000. Graybill Wealth Management LTD. bought a new stake in United Parcel Service in the 1st quarter valued at $26,000. IFS Advisors LLC lifted its stake in shares of United Parcel Service by 232.3% during the 4th quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock worth $27,000 after buying an additional 151 shares during the last quarter. Finally, Pinney & Scofield Inc. acquired a new stake in United Parcel Service during the 4th quarter worth approximately $27,000. 60.26% of the stock is currently owned by institutional investors and hedge funds.

About United Parcel Service

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.